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To: Yoav Chudnoff who wrote (19489)	12/1/1998 10:05:00 AM
From: JustMy2Cents	Respond to of 119973

Bluefly.com and Yahoo! Launch Co-Branded Store On Yahoo! Shopping NEW YORK--(BUSINESS WIRE)--Dec. 1, 1998--Bluefly, Inc. (NASDAQ SmallCap: BFLY, BFLYW/BSE: BFL, BFLW), the outlet store in your home (www.bluefly.com), today announced that it is launching a co-branded version of its online store on Yahoo! Shopping (http://shopping.yahoo.com). Under the new agreement, Yahoo! and Bluefly.com created and integrated the co-branded store into Yahoo! Shopping, a comprehensive, one-stop Internet shopping service. The new relationship between Bluefly, a growing online name brand fashion outlet store, and Yahoo! Inc. [Nasdaq:YHOO - news], a global Internet media company, is intended to offer consumers an even more extensive selection of name brand apparel available on Yahoo! Shopping and expand Bluefly's presence on the Internet. ''We are thrilled to be a part of Yahoo!'s major new shopping initiative,'' said Jonathan Morris, executive vice president of Bluefly, Inc. ''Yahoo! has demonstrated a tremendous ability to introduce innovative products and services and to attract an enormous number of users. We believe that our positioning in Yahoo! Shopping's Apparel and Accessories Department will help grow our sales and build our brand,'' Morris added. ''Bluefly.com offers our millions of users the opportunity to buy designer and name brand apparel and fashion accessories at a discount,'' said John Briggs, director of commerce, Yahoo! Inc. ''Having Bluefly.com in Yahoo Shopping is a great addition for us, particularly as we enter the holiday shopping season,'' Briggs added. Yahoo! Shopping was launched on November 17, 1998, and is being promoted nationally on television and in a variety of publications by both Yahoo! and Visa, which is Yahoo!'s preferred payment card for the new service. Bluefly, Inc. is a NASDAQ SmallCap public company. Headquartered in New York City, in the heart of the fashion district, Bluefly.com aims to be the most enjoyable way to shop for designer and name brand apparel and accessories at savings of 25 to 75 percent off of retail prices. Its innovative MyCatalog feature is designed to eliminate the ''hit-or-miss'' aspect of off-price shopping by allowing shoppers to see only those products, which are available for sale and match their interests. The online merchant offers a meaningful alternative for consumers looking for service and convenience in an outlet store environment. This press release may include statements that constitute ''forward-looking'' statements, usually containing the words ''believe'', ''project'', ''expect'', or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in reports filed by the company with the Securities and Exchange Commission, including Forms 8-A, 8-K, 10-QSB, and 10-KSB. These risks and uncertainties include, but are not limited to the following: the Company's limited working capital and need for additional financing; consumer acceptance of the Internet as a medium for purchasing apparel; recent losses and anticipated future losses; competition; the startup nature of the Internet business; the capital intensive nature of such business (taking into account the need for advertising to promote such business); the successful hiring and retaining of personnel; risk of litigation for sale of unauthentic or damaged goods; the dependence on third parties and certain relationships for certain services; the dependence on continued growth of online commerce; rapid technological change; year 2000 issues, online commerce security risks; governmental regulation and legal uncertainties; management of potential growth; the Company's lack of experience in such business; unexpected changes in fashion trends and the potential for competitors with greater resources to enter such business. Yahoo!, Yahooligans! And the Yahoo! Logo are registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners. Contact: Bluefly, Inc. Margaret McCann, 212/944-8000, ext. 29